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#285314 - 12/07/04 03:46 PM Quick Outdoor Ad Question
Inquisitor / Sommelier Omega Diamond Poster Joined: Aug 2003 Posts: 1,357 A Grant Wood painting.	I can't find my stuff- again. In this morning's marketing meeting it was decided to advertise our new CD rate on our marquee. "15 month CD - X.XX APY - FDIC Insured". I don't know of anything else we need. Is this right. Thanks _________________________ The opinions expressed are what you can expect for the price paid.
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#285315 - 12/07/04 03:53 PM Re: Quick Outdoor Ad Question
John Burnett 10K Club Joined: Oct 2000 Posts: 40,086 Cape Cod	You need to include the minimum balance to obtain the APY (230.8(c)(3)). That's not one of the items you can omit from a marquee ad. _________________________ John S. Burnett BankersOnline.com Fighting for Compliance since 1976 Bankers' Threads User #8
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#285316 - 12/07/04 04:14 PM Re: Quick Outdoor Ad Question
Inquisitor / Sommelier Omega Diamond Poster Joined: Aug 2003 Posts: 1,357 A Grant Wood painting.	Thank you John. I knew there was something causing me to pause. _________________________ The opinions expressed are what you can expect for the price paid.
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#285317 - 12/07/04 10:09 PM Re: Quick Outdoor Ad Question
Andy_Z 10K Club Joined: Oct 2000 Posts: 27,752 On the Net	Look at 230.8(e) for exceptions. There are some items that may be excluded from what would otherwise be a triggered and required disclosure. You can't avoid it all, but you can avoid a lot. _________________________ AndyZ CRCM My opinions are not necessarily my employers. R+R-R=R+R Rules and Regs minus Relationships equals Resentment and Rebellion. John Maxwell
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#285318 - 12/24/04 02:25 PM Re: Quick Outdoor Ad Question
John Burnett 10K Club Joined: Oct 2000 Posts: 40,086 Cape Cod	Don't miss Andy's January 20 Webinar on A to Z of Reg. DD. _________________________ John S. Burnett BankersOnline.com Fighting for Compliance since 1976 Bankers' Threads User #8
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#285319 - 01/03/05 08:12 PM Re: Quick Outdoor Ad Question
DawgFan Diamond Poster Joined: Jul 2002 Posts: 1,678 United States	Quote: I can't find my stuff- again. In this morning's marketing meeting it was decided to advertise our new CD rate on our marquee. "15 month CD - X.XX APY - FDIC Insured". I don't know of anything else we need. Is this right. I have a question. Are you allowed to say "APY" instead of "Annual Percentage Yield" on an outdoor electronic sign? Where is the regulatory permission for that? I am dealing with this issue right now, but I can't seem to find any good regulatory guidance. Unlike Omega, who had his stuff and lost it, I never had it to begin with . _________________________ Opinions expressed are solely my own.
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#285320 - 01/03/05 08:48 PM Re: Quick Outdoor Ad Question
John Burnett 10K Club Joined: Oct 2000 Posts: 40,086 Cape Cod	You only THINK you never had it together. You're right on target here, and I missed it. In addition to the minimum balance to obtain the APY, the phrase "annual percentage yield" must be used. There's no exception to that requirement for outdoor or electronic signs. _________________________ John S. Burnett BankersOnline.com Fighting for Compliance since 1976 Bankers' Threads User #8
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#285321 - 01/03/05 08:58 PM Re: Quick Outdoor Ad Question
Anonymous Unregistered	Are you also required to include the minimum balance to open the account?
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#285322 - 01/03/05 08:59 PM Re: Quick Outdoor Ad Question
DawgFan Diamond Poster Joined: Jul 2002 Posts: 1,678 United States	Whoops, that was me. I forgot to log in. _________________________ Opinions expressed are solely my own.
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#285323 - 01/03/05 09:32 PM Re: Quick Outdoor Ad Question
John Burnett 10K Club Joined: Oct 2000 Posts: 40,086 Cape Cod	Quote: Are you also required to include the minimum balance to open the account? If the balance to open the account is not more than the amount to earn the APY, you need not disclose the opening amount requirement. _________________________ John S. Burnett BankersOnline.com Fighting for Compliance since 1976 Bankers' Threads User #8
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#285324 - 01/03/05 10:57 PM Re: Quick Outdoor Ad Question
DawgFan Diamond Poster Joined: Jul 2002 Posts: 1,678 United States	I assume then, that if the balance to obtain the APY and the balance to open the account are the same, I don't have to disclose a minimum balance requirement at all, right? _________________________ Opinions expressed are solely my own.
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#285325 - 01/04/05 12:55 AM Re: Quick Outdoor Ad Question
John Burnett 10K Club Joined: Oct 2000 Posts: 40,086 Cape Cod	Nice try, but wrong. _________________________ John S. Burnett BankersOnline.com Fighting for Compliance since 1976 Bankers' Threads User #8
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